Hancock County Farm Bureau FY2023 filing

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To create a vibrant future for agriculture, farm families and their communities.

501(c)(5) labor or agricultural organization; gifts are not tax-deductible as charitable contributions.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(5)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 4
filings with a surplus
Average surplus $247K a year · 66% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
2 mo
of spending, in cash
Plus $1.3M in investments, Pt X · Ln 11–13
Fine: 2.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $21K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$6K
0.4% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
21
of 21 voting members
Looks good: 21 of 21 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$112K
-90% vs prior year
Spent
$127K
To programs
0%
Net assets
$1.3M
By yearFY2020–FY2024
Revenue
$112K
FY2023▼ -90%
Tap a bar for its year
Revenue by fiscal year
FY2020$134K
FY2021$126K
FY2022$1.1M
FY2023$112K
FY2024$123K
Expenses
$127K
FY2023▼ -1%
Tap a bar for its year
Expenses by fiscal year
FY2020$120K
FY2021Not on file
FY2022$128K
FY2023$127K
FY2024$137K
Net assets
$1.3M
FY2023▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$366K
FY2021$395K
FY2022$1.3M
FY2023$1.3M
FY2024$1.4M

From the FY2023 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1945.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

21 people listed on the 990.

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Voting Delegate
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Hancock County Farm Bureau executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports farmers, families, and communities for a thriving agricultural future.

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3 programs · in their own filed words · FY2023
01

See Schedule O.

Pt IX · col B
02

See Schedule O.

Pt IX · col B
03

See Schedule O.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$21K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$112K
Ln 12
Fees for servicesLn 2g$58K
Gifts and grantsLn 1h$25K
Investment incomeLn 3$25K
Money outPt IX
$127K
Ln 25
Owns and owesPt X
$1.3M
net assets · Ln 32
Cash and savingsLn 1–2$21K
Total assetsLn 16$1.3M
LiabilitiesLn 26$6K
PeoplePt VI, VII
21
listed · VII A
PaidVII A0
Voting boardVI 1a21
IndependentVI 1b21
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$25K
Fees for servicesLn 2g$58K
Investment incomeLn 3$25K
Other incomeLn 4–11$4K
Gains on assetsLn 7−$7K
Total revenueLn 12$112K
Assets in detailPt X, end of year
SavingsLn 2$21K
Cash and savings togetherLn 1–2$21K
InvestmentsLn 11–13$1.3M
Land, buildings, equipmentLn 10c$4K
Total assetsLn 16$1.3M
LiabilitiesLn 26$6K
Net assetsLn 32$1.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 6140
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$13K$21K
InvestmentsLn 11–13$1.3M$1.3M
Land, buildings, equipmentLn 10c$5K$4K
Total assetsLn 16$1.3M$1.3M
LiabilitiesLn 26$5K$6K
Net assetsLn 32$1.3M$1.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$4K$0
Other employee benefitsLn 9$8K$0$0$0
Management feesLn 11a$1K$0$0$0
Accounting feesLn 11c$1K$0$0$0
Investment management feesLn 11f$3K$0$0$0
Other fees for servicesLn 11g$36K$0$0$0
Advertising and promotionLn 12$707$0$0$0
Office expensesLn 13$4K$0$0$0
OccupancyLn 16$19K$0$0$0
TravelLn 17$682$0$0$0
Conferences, conventions and meetingsLn 19$17K$0$0$0
Payments to affiliatesLn 21$26K$0$0$0
Depreciation, depletion and amortizationLn 22$1K$0$0$0
InsuranceLn 23$943$0$0$0
Other expenses (24a–d)Ln 24$4K$0$0$0
All other expensesLn 24e$32$0$0$0
Total functional expensesLn 25$127K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $123K$137K−$14K$1.4M 990 PDF
FY2023 Viewing $112K$127K−$15K$1.3M 990 PDF
FY2022 $1.1M$128K$1.0M$1.3M 990 PDF
FY2021 $126K$395K 990 PDF
FY2020 $134K$120K$14K$366K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $111,959 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,030,951$24,902
I-9 Program service revenuePrior year $56,800$58,200
I-10 Investment incomePrior year $19,637$24,657
I-11 Other revenuePrior year $21,619$4,200
I-12 Total revenuePrior year $1,129,007$111,959
I-13 Grants and similar amounts paidPrior year $5,527$4,000
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $25,322$7,985
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $97,202$114,660
I-18 Total expensesPrior year $128,051$126,645
I-19 Revenue less expensesPrior year $1,000,956−$14,686
Part VI · Governance 21 of 21 board members independent, 2 to look at
VI-1a Voting members of the governing body21
VI-1b Independent voting members21
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $111,959 across 8 lines filed
VIII-1d Related organizations$18,802
VIII-1f All other contributions, gifts and grants$6,100
VIII-1h Total contributions, gifts and grants$24,902
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$58,200
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $31,638$31,638
VIII-6 Net rental income or lossExcluded from tax $4,200$4,200
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax −$6,981−$6,981
VIII-12 Total revenueRelated to mission $58,200 · Unrelated business $0 · Excluded from tax $28,857$111,959
Part IX · Statement of functional expenses $126,645 across 16 lines filed
IX-2 Grants to domestic individualsPrograms $0$4,000
IX-9 Other employee benefitsPrograms $0 · Management $0 · Fundraising $0$7,985
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$1,164
IX-11c Accounting feesPrograms $0 · Management $0 · Fundraising $0$1,414
IX-11f Investment management feesPrograms $0 · Management $0 · Fundraising $0$2,680
IX-11g Other fees for servicesPrograms $0 · Management $0 · Fundraising $0$35,745
IX-12 Advertising and promotionPrograms $0 · Management $0 · Fundraising $0$707
IX-13 Office expensesPrograms $0 · Management $0 · Fundraising $0$4,056
IX-16 OccupancyPrograms $0 · Management $0 · Fundraising $0$19,200
IX-17 TravelPrograms $0 · Management $0 · Fundraising $0$682
IX-19 Conferences, conventions and meetingsPrograms $0 · Management $0 · Fundraising $0$16,983
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$25,608
IX-22 Depreciation, depletion and amortizationPrograms $0 · Management $0 · Fundraising $0$1,095
IX-23 InsurancePrograms $0 · Management $0 · Fundraising $0$943
IX-24 Other expenses (24a–d)Programs $0 · Management $0 · Fundraising $0$4,351
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$32
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$126,645
Part X · Balance sheet $1,343,956 assets, 11 lines filed
X-2 Savings and temporary cash investmentsStart of year $13,024$20,588
X-4 Accounts receivableStart of year $2,327$2,456
X-10c Land, buildings and equipment, netStart of year $4,893$3,798
X-11 Publicly traded securitiesStart of year $280,232$321,929
X-12 Other securitiesStart of year $995,185$995,185
X-16 Total assetsStart of year $1,295,661$1,343,956
X-17 Accounts payable and accrued expensesStart of year $5,408$5,793
X-26 Total liabilitiesStart of year $5,408$5,793
X-27 Net assets without donor restrictionsStart of year $1,290,253$1,338,163
X-32 Total net assets or fund balancesStart of year $1,290,253$1,338,163
X-33 Total liabilities and net assetsStart of year $1,295,661$1,343,956
Part XI · Reconciliation of net assets $1,338,163 net assets at year end
XI-1 Total revenue$111,959
XI-2 Total expenses$126,645
XI-3 Revenue less expenses−$14,686
XI-4 Net assets at start of year$1,290,253
XI-5 Net unrealized gains (losses) on investments$62,596
XI-10 Net assets at end of year$1,338,163

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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